A weekly round up of the central London property news

Camden

Estates Gazette reports Kildare Partners has appointed BNP Paribas Real Estate to market Fox Court, WC1, less than three months after acquiring it from Karlin Real Estate. The 100,000 sq ft building is expected to attract bids of around £115m – a 4.5% yield.

City of London  

Property Week reports Qatari investor Alduwaliya is close to sealing a deal to buy 100 New Bridge Street from HIH Global Invest for £150m. EG adds that the 168,000 sq ft building is let to law firm Baker & McKenzie.

EG reports Brookfield has completed the sale of two 40% stakes in 99 Bishopsgate, EC2, to China Life and the Qatar Investment Authority. The deal values the multi-let City office tower at £340m – a 4.9% yield.

EG reports that Canadian pension fund OMERS has completed the letting of 25,000 sq ft at the Leadenhall Building, EC3. The deal means the 610,000 sq ft building is now 90% let or under offer.

EG reports that AXA Investment Management – Real Assets is close to securing an £85m deal to buy the 190-room hotel at Berkeley Group’s 1.2m sq ft mixed-use development 250 City Road, EC1.

City of Westminster

Co-Star News reports that a GAW Capital-led consortium is to buy 123-151 Buckingham Palace Road, SW1, for around £500m. The interlinked 480,000 sq ft office development is let to Google, PA Consulting, Eni and Sky Media. The deal will be the largest single asset investment deal in the West End for more than two years.

Co-Star News also reports that landlords throughout London’s West End are being asked to support the creation of a Property Owner Business Improvement District (PO BID), which will raise around £15.9m in funds to be invested in making the area one of the world’s most compelling choices for real estate investment. Ballot papers will be sent to property owners in November, with the results expected to be announced on the 18th December.

PW reports that Green Property has leased the first floor of its 8 St James’s Square development to Point 72, the family office of American hedge fund manager Steven A Cohen.

PW reports Grosvenor has put the long leasehold interest in two luxury Mayfair residential developments at 65 Duke Street and 62 Green Street up for sale for around £120m.

As highlighted in last week’s briefing, PW confirms that private equity firm Coller Capital has agreed to lease the 28,000 sq ft third floor of Park House, Oxford Street. It means the entire building is under offer with Coller joining Elliott Advisors, Equinox, Cheniere Energy, MP & Silva and TPG in the State of Qatar-owned scheme.

EG reports that Colliers International has been instructed to sell 40 Dover Street, W1, the home of one of the world’s most exclusive private members’ clubs, the Arts Club. Offers in excess of £90m will be sought for the seven-storey Georgian terrace, a 3.4% yield.

PW reports that Pret a Manger is under offer to take the 30,677 sq ft first floor of Tishman Speyer’s Verde development. The sandwich chain will move its head office from nearby 1 Hudson’s Place in Victoria.

PW reports that international contemporary art gallery Sprüth Magers is moving its London base to 29 Sackville Street, taking the whole 8,000 sq ft 18^th-century townhouse for a rental level around £100/sq ft.

EG reports that M&G Real Estate is under offer to buy five adjoining Grade II-listed townhouses known as the Baker Street Apartments, NW1, for £25m.

Hackney

EG Masterworks Development Corporation’s plan for a 45-storey, mixed use tower at 13-14 Appold Street, EC2, has been given the go-ahead. It will feature a 392-bedroom Club Quarters hotel, 121,300 sq ft of office space and a restaurant. Completion is expected for mid-2019.

Islington

PW reports Regal Homes has joined forces with ESO Capital Group to purchase a site in the borough with consent for a £115m residential development.

EG reports that Regal Homes and ESO Capital Group have bought the 0.8-acre plot at 130-154 Pentonville Road, N1, for £50m. The site has planning permission for 118 flats and an estimated gross development value of £125m.

Kensington & Chelsea

PW reports that Queensgate Investments has bought the Holiday Inn London Kensington Forum, the fifth-largest hotel in the capital, for around £400m.

PW reports that Crimson Hotels has acquired London’s Regency Hotel from Comcrest for more than £100m and has reached an agreement to convert it a DoubleTree by Hilton.

Southwark

EG reports that IPE Global has bought 237 Walworth Road, SE17, for £10.5m from Goldcrest Land. The 0.75-acre plot in the Elephant & Castle Opportunity Area has permission for 67 homes.

Tower Hamlets

EG reports China Greenland Group has submitted plans for a 67-storey tower on the site of Hertsmere House, West India Quay, E14. The HOK-designed scheme includes 869 homes and will be the tallest residential tower in western Europe.